Forecasting a massive hit from policies to stop the spread of coronavirus, New York real estate startup Compass has laid off 15% of employees by samsharf
Forecasting a massive hit from policies to stop the spread of coronavirus, New York real estate startup Compass has laid off 15% of its employees.CEO Robert Reffkin wrote Monday in an email to his staff.
“So we are joining thousands of other companies across the country in making the heartbreaking decision to let some members of our team go.” As the coronavirus pandemic has roiled stock markets and forced businesses around the United States to put operations on hold, companies . Economists, including those at real estate services firm CBRE, predict the unemployment rate will jump to 5%,—meaning 2 million people would lose jobs. Reffkin argued the rate could go as high at 10%.
The roughly 375 Compass cuts—which hit departments including marketing, finance and M&A—came just days after Reffkin penned an open letterto consider economic relief for real estate agents, whom he described as entrepreneurs whose businesses would be disproportionately hurt by social-distancing and shelter-in-place measures.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SoftBank-backed brokerage Compass lays off 15% of staff - Business InsiderSoftBank-backed real estate brokerage Compass laid off approximately 375 employees, a source familiar with the matter confirmed to Business Insider.
Read more »
Connecticut Gov. calls on Trump to impose nationwide shelter-in-place orderPresident Donald Trump should impose a nationwide order that requires Americans to stay in their homes in an effort to contain the coronavirus outbreak, says Democratic Connecticut Governor Ned Lamont
Read more »
“I’m Homeless—How Can I Self-Quarantine?”In California, homeless and housing-insecure families struggle to find safe places to shelter from coronavirus.
Read more »
Tom Hanks reminds us that coronavirus, too, shall pass as he and Rita Wilson are feeling better'Going to take awhile, but if we take care of each other, help where we can, and give up some comforts...this, too, shall pass.' Tom Hanks and Rita Wilson are feeling better after being treated for coronavirus
Read more »
Crowds packed California beaches despite shelter in place orderPeople descended on California beaches, hiking trails and parks over the weekend in open defiance of a state order to shelter in place and avoid close contact with others.
Read more »